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2023 recap: AI-driven compliance, product innovation and strategic alliances

By Benedicta Takyi, Marketing Manager, Apiax

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by Apiax
| 10/01/2024 09:00:00

Now that a new year is nearly upon us, it is time to take a moment to reflect on the transformative events that shaped Apiax in 2023. This year has been nothing short of outstanding, filled with continuous innovation and a dedication to achieving our goals.

In this recap we will take a journey through the year, highlighting our achievements and initiatives that have driven us forward.

Recognition, partnerships and product innovation
We started off the year with incredible news: we became ISO 27001 Certified! This recognition is a testament to our unwavering commitment to ensuring excellent information security management, and a guarantee that we shall continue to adhere to the highest levels of information security that meets the expectations of our valued clients and partners.

We made significant progress in our efforts to provide our customers with the best possible experience. One of the ways we have done this is by partnering with Seismic, a US-based global leader in sales enablement solutions, to embed disclaimer creation into the marketing material creation process. 

The partnership provides Seismic’s customers with the ability to automatically create disclaimers for marketing materials, ensuring that client presentations and other marketing documents are compliant with regulations in over 50 countries. This has helped our customers save time and ensure that their marketing efforts are compliant with regulations. We are very proud of this collaboration and we look forward to continuing to work with Seismic to provide our customers with the best possible and fully compliant marketing solutions.

We also collaborated on a joint project with FE Fundinfo to provide a global leading asset manager with an automated system for the creation of disclosure and marketing materials. Leveraging FE Fundinfo’s expertise in investment fund data, Apiax provides the client with solutions for creating marketing materials that meet current regulatory standards in their target distribution country.

Supercharging embedded compliance with AI
This year, Apiax made a significant leap forward in empowering financial institutions to navigate the complexities of regulatory compliance with the introduction of the AI Policy Assistant. These intelligent assistants are taking existing policy repositories to the next level by providing precise and up-to-date answers to regulatory questions, freeing up compliance teams to focus on strategic initiatives. 

The introduction of AI-powered digital assistants represents a significant milestone in our ongoing commitment to providing financial institutions with innovative solutions to address their compliance challenges.

Product rollout: Instruments Check
Another milestone in 2023 was the rollout of our Instruments Check solution. Powered by industry-leading investment product data and regulatory restrictions provided by our partners, the new solution is accessible as a web application or via API. It accelerates financial institutions’ ability to identify the most suitable and tax efficient investments for their clients and serves as a powerful tool for compliance or product selection teams, enabling multiple use cases for wealth and asset management. 

Collaborations and findings
In 2023, we teamed up with JWG and EY to release the Embedding Compliance Unlocked: Leverage AI-enabled compliance tooling now to be ready for 2025 whitepaper. This authoritative whitepaper explores how financial institutions can embrace AI and other technologies as part of their digital transformation journey. Especially via rule repositories and model-based controls that help overcome the risk of non-compliance and increase profits while ensuring safety throughout the process. 

At the beginning of the year, as we do each year, we updated and released the 2023 version of the Embedded Compliance Guide. This guide highlights the regulatory challenges financial institutions face and how embedding compliance in their already existing processes helps to minimise risk, reduce costs and improve efficiency.  

We also updated our Ultimate RegTech Guide, a one-stop resource for all things Regulatory Technology (RegTech), including real-life case studies and practical tips for selecting and implementing RegTech solutions, as well as links to the most relevant and industry-recommended associations, articles, events and blogs.

For another year running, we conducted the Cross Border Compliance Survey to uncover insights into the challenges and opportunities facing financial institutions operating in a globalised market. The report is currently in the works and we are excited to share the findings with you soon. In the meantime, if you would like to receive a copy of the report as soon as it is released, please join our waiting list and be one of the first to receive it.

The Apiax Newsletter
This year we re-launched the Apiax Newsletter with full force! We are thrilled to also share that we already have over 2000+ email subscribers, as well as 900+ subscribers on our LinkedIn Newsletter. We are so grateful for your support, and we are excited to continue growing our community. 

Make sure you subscribe to our email newsletter to stay up to date with Embedded Compliance and how financial institutions are leveraging it to simplify their business activities.

Community and API IPA beer
2023 marked a remarkable and very sociable year for us as we successfully hosted five Apiax Networking Mixers. We kicked off the year with a mixer in Singapore, co-hosted with Finalix Business Consulting, and then headed to London, Zurich, Geneva and Singapore (again!) where we had the opportunity to network with fellow industry professionals and experts, and engage in meaningful conversations about digital compliance tools for financial institutions. 

Moreover, to make our mixer events even more enjoyable, we also launched our own Apiax API IPA beer perfect for any occasion, refreshing and embedded with lots of goodness. Join us at our next mixer to grab a goodie bag with one of our API IPAs!

We want to thank everyone who attended our mixers this year. We had a great time getting to know you and we hope to see you again at our mixer events in 2024.

Events and activities
We attended and participated in five industry events this year, where we were provided with valuable insights into the ever-evolving FinTech landscape and allowed us to connect with a wide range of industry professionals. 

These events included the Swiss FinTech Fair, which gave us the opportunity to engage with key players, explore emerging technologies, and meet new and old faces from the Swiss regulatory landscape; the Singapore FinTech Festival, which was attended by Andrew Campbell, responsible for the region, who participated in insightful discussions, networked with industry experts, and learnt more about the transformation of financial services. We also attended the Regech Conf 2023 in Portugal and the FinTech World23 in Frankfurt. 

In addition to the in-person events we attended, we actively participated in informative webinars this year including JWG Group‘s Compliance RegTech Seminar 2023 and Hubbis’ COOs: Strategies to Enhance the Platform webinar, where Apiax co-founder Ralf Huber shared his insights on the evolution of compliance and RegTech in Asia. 

Ralf Huber also provided an informative lecture on compliance and risk at the Wealth Management Institute (WMI) in Singapore earlier this year. The session delved into the crucial role of compliance in wealth management, particularly in decision-making and daily relationship management processes. Ralf also demonstrated how Apiax is empowering financial institutions to streamline lengthy compliance processes and mitigate risk through our Embedded Compliance solution.

Apiax’s HQ office in Zurich was entertained by motivated and multilingual children from ages 9-13 this past November, during an Apiax Zukunftstag—a.k.a Future Day. They spent the day doing workshops and fun activities introducing them to coding, information technology and the world of regulations. But more importantly, the children were most delighted with the pizza lunch, a police dog show and their victory in a friendly table football match with our team.

Optimism for 2024
We look back at 2023 with a sense of pride and accomplishment. This year at Apiax, we have achieved significant milestones, overcome challenges, and emerged with a renewed sense of optimism for the future.

We have demonstrated our unwavering commitment to innovation and client satisfaction, ensuring that our clients remain on top of their regulatory compliance needs. We are grateful to our clients, partners and the whole Apiax community for a successful year. 

As we look towards 2024, we are filled with confidence that we will continue to grow and thrive, and make positive impacts in the regulatory compliance landscape.

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